Which of the following is not an advantage of accounting software? It is widely available. Financial...
Which of the following is not an advantage of accounting software?
It is widely available.
Financial statements can be prepared at any time.
The business owner no longer needs to retain paper receipts.
It is relatively inexpensive.
Homework Answers
Answer is option third - The business owner no longer needs to retain paper receipts
The business owner must retain paper receipts even if the accounting software is used. Because, accounting software is only for the purpose of maintaining accounts and not for maintaining records which would be required for audit. Hence, option third is not an advantage of accounting software.
Whereas, all other options are an advantage of an accounting software.
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